Wood River times. [volume] (Hailey, Idaho) 1882-1915, 1887-12-06
THE CONDITION OF TRADE.

X. &. Dun l. Co.'s Review for the Week
Ending November 26-Nearly $780,
100000 Of Foreign Capital Invested
in the United States Since May 1,
1887.
In all directions business prospects
are improving, although the situation
no" here justifes such speculative
wlldness as has appeared in some
branches. Money still goes to the
West, and even more to the South.
and bankers anticipate some pressure
as the New Year approaches, but the
Treasury has increased its deposits
with banks $1,5,2,lS2 during the
past week, and so has withdrawn
from market only 100000 cash.
Plans of tariff reduction attract at
tention, but do not seem as yet to
have affected the demand for products.
The most important fact is, that
investment OF foreign capital in this
country still continues. The latest
evidence, sale of SS,00O,OOO North
ern Pacific bonds to a foreign syndicate,
came at time when foreign sales of
stocks appeared to foreshadow a con-
trary movement. In October, mer-
chandise exports amounted to $76,-
O5O,OO5, the largest October report
for five years, and exceeded imports
by So, 196,O67; deducting underval,
uatlons, interest, and other items, the
balance on merchandise account
would be not more than $5,O0O,OOO,
leaving most of the net imports of
specie, which were 81 ,630, 154, to
represent new foreign capital brought
hither. In seven months not less than
$40, 100000 must have thus arrived
from abroad, which mas gone far to
support the continued development
of railroads, mines and manufactures.
Nevertheless the effects of partial
loss of crops begin to be felt. f ON
most quarters come complaints that
collections are slow or only fair, and
though rapid marketing of products
has brought relief at most Southern
and some Western points, at many
others money is close and rates hie h
Large railroad earnings are met in
many cases by unwonted increase in
expenses; thus the Pennsylvania
shows decrease in net earnings of
Sl39, $50 for October, and the New
York Central increased gross earn
ings SS32,926 for the last quarter, but
expenses increased 81, 1o5, 1892, so
that net earnings fell off $352,4G5.
Stocks closed "Wednesday about so
cents per share higher than last week
but showed hesitation at the close,
and declined yesterday forenoon a
fraction. Breadstutfs have advanced,
wheat J cents, oats { cent, and corn
rose sharply yesterday; pork has ad-
vanced 20 cents per barrel and lard
10 cents per 100 pounds, though hogs
are lower. The iron market is still
weak at Pittsburgh, but shade frmer
for No. 2 at Philadel phia because of
the scarcity of the best grades. A
decline in British exports to this
country from 12O,O85 tons in Sep
TENDER, to 92,142 in October, en-:
courages the trade.
Cotton goods are very firm, and
some make advance again. The wool
ems trade is quiet, with few new or
ders. Coal is scarce and higher, the
strike being called the cause, although
the actual output last week was larger
in spite of the strike than that of the
same week last year. Over production
was given as the reason for curtail-
ment or stoppage by some sugar re-
finerles, but the price quickly i'm
proved, and current statistics sustain
estimates that the worlds consumption
this year vii. closely approximate the
supply. Bureau estimates of the cot
ton crop are still disputed, but the
market has grown stronger in the
belief that Southwestern forest fires
will delay shipment.
The business failures occurring
throughout the country during the
last seven days number, for the United
States 1S7, and for Canada 20, or a
total of 207, as compared with 224
last week, and 217 the week previous
to the last. The figures for the cor
responding week of 1886 were ZIG,
made up of 1879 failures in the United
S..+o, o,J 01 :, Co,oJo